2012-11-SPTM-rpt2 - Laserfiche WebLink

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APPROPRIATION COMMITTEE 2' REPORT TO THE NOVEMBER 2012 STM The committee has also considered general principles with regard to granting a TIF. There is little desire to create a precedent leading to an expectation of obtaining a TIF for commercial expansion within Lexington. The committee feels that granting a TIF should be done cautiously, in a manner that balances the broad interests of commercial property owners, residential property owners, and those of enabling or accelerating commercial development. In the current request, the committee believes that the amount of the requested TIF is appropriate — it results in no loss of revenue relative to our reasonable expectation for development of the property and it provides an incentive for Vistaprint, a company that imposes a relatively low burden on town services, to remain in town. The Committee recommends approval of this request (5 -2).